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THE PROJECT: Growth for Piedmont Plastics would allow it to continue <br /> to serve its expmuding costomer base while providing <br /> favorable economic impact on the surrounding geographic <br /> region. Comtemplated additions would require (a) the <br /> acquisition of a land site consisting of approximately <br /> 20 acres, (b) the construction of a new facility to house <br /> expanded manufacturing operations and (c) purchase and <br /> installation of additional sophisticated production equipment <br /> to be housed in the new facility. The proposed ~acility would <br /> approximate 62,000 square feet, of which approximately <br /> <br /> 57,000 square feet would be devoted to manufacturing operations <br /> and the remainder would serve to house administrative, <br /> management and other supporting staff personnel. <br /> <br /> Favorable Economic benefits would accrue to the community as <br /> <br /> a result of the Piedmont project. During the first year of <br /> operation a minimum of ten to fifteen new jobs will be created <br /> with escalating additions anticipated in future periods. <br /> <br /> Every effort will be made to hire local residents to fill <br /> each new opening. Piedmont Jobs are among the most highly <br /> remunerated in the area. Additionally, the project promises <br /> significant added economic benefits to Cabarrus County. <br /> Additional property taxes of approximately $18,000 to $20,000 <br /> annually will be generated for the local government. Also, <br /> as new jobs are created other support industries are required <br /> to service the needs of the employees. <br /> <br /> In summary, Piedmont Plastics strongly believes this project <br /> <br /> is higb_ly desirable in all respects - for the residents of <br /> Cabarrus County and for the current and future employees of <br /> the Company and for the oustomers who benefit from the continued <br /> efforts to provide reliable, personal service responsive to <br /> their needs. Obviously, this makes the project good for the <br /> State of North Carolina. <br /> <br /> <br />